(Photo: US Marine Corps Sgt Luis Agostini via Wikimedia Commons)Lufthansa and FedEx Corp are investing more than $600 million for separate facilities in a former US air base in the Philippines as the country moves to attract more foreign capital, according to a senior government official. Foreign direct investment into the Philippines reached $9 billion in 2024, compared to between $11 billion and $24 billion for neighbors Indonesia, Vietnam, Malaysia and Thailand, data from the Asean Investment Report show. Lufthansa Technik Philippines, which has an existing operation in the capital’s main airport, will build a facility in the next two to three years on a 15-hectare site that can serve planes as large as an Airbus A380 jumbo aircraft, Bingcang said on Thursday. FedEx, meanwhile, is expanding its current facility in Clark and will spend more than $200 million, Bingcang said. Korean Water Resources Corp and Maynilad Water Services Inc have also submitted a proposal to partner with development authority to provide water and wastewater services, he said.

Source: Bangkok Post February 05, 2026 12:03 UTC